SVS Securities - shut down?

GeorgieC

shiznit76 said:

GeorgieC said:

SteveJohnson56 said:

Thanks GeorgieC

Happy to help...

can you get my holdings transferred to Iweb 

Once upon a time....

rnf11

flustered said:

Today I received a letter in the post from iWeb which I find extraordinary, particularly the last paragraph.  Has anyone else received the same letter?:

Your Transfer from ITI Limited
Dear xxxxx
I write in response to your request to transfer your account from ITI Limited to ourselves.

I need to inform you that we are experiencing ongoing difficulties in progressing transfers with ITI Limited due to them not responding in a timely fashion to our requests for information.

We wanted to take this opportunity to update you about this to ensure we're accurately setting your expectations and we will of course continue to contact ITI Limited until we receive a response to your individual request to transfer.

We would be grateful if you could also chase ITI Limited to expedite your request sooner.

Yours sincerely
Manuel Pardavila-Gonzalez
Managing Director

Probably to everyone in the same boat.

"If you want a job doing , then do it yourself".

I infer that IWeb and all the others have absolutely no leverage over ITIC. Given that The FCA -  as the supposed regulatory body -  isn't achieving anything either, then it really does highlight the serious blind spot in the UK financial systems.

Quis custodiet ipsos custodes?

johnburman

Flusted...send the letter to the FCA with your complaint about ITI.  And also send it to the FOS...it evidences your complaint complaint and request for compensation.

Of course also send it to ITI: why do I feel that they simply can not continue in business.  They are not responding to emails; they do no tanswer the 'phone; do not transfer monies when requested; actually have no 'phone numbers for the relevent departments and generally ignore clients (or at least me).  Put it this way they do nto deserve to continue in business.  14 weeks since my request for transfer went in to them by my new brokers, and it has not been FULLY dealt with.

GeorgieC

johnburman said:

Of course also send it to ITI: why do I feel that they simply can not continue in business.   actually have no 'phone numbers for the relevent departments and generally ignore clients (or at least me).  

Try these numbers if they are different to those you have...
Compliance 020 3889 8330 / 020 7562 8002
Rahul Agarwal 020 3889 8335
Back Office/Transfers. 020 7562 8005 / 020 3889 8320
Reception (can transfer or menu options) 020 7562 8000

Nbs222

SteveJohnson56 : have you also given IWEB the PX accounts? If not you should do.

I requested my transfer in  early August at that time only SC accounts existed .

SteveJohnson56

Nbs222 said:

SteveJohnson56 : have you also given IWEB the PX accounts? If not you should do.

I requested my transfer in  early August at that time only SC accounts existed .

Ring IWEB UP, explain your assets have moved to linked PX accounts, give the linked account numbers, ask them to submit both SC and PX accounts when IWEB next request valuations from ITI.
That's what I did, there is chat online as well, though a bit slow. Cover all your bases.

Email a complaint to compliance@iticapital.com 
david.moss@iticapital.com  if you have not already, requesting they transfer the stock back to the SC accounts(don't hold your breath on that one).
If you have followed the https://iticapital.com/faq to have your account reset to leave complain that there are no assets in the SC. If you have not had your account reset, when you download the closure form add your PX account numbers/ assets/cash,
that's what I have done.
Of course you may have done this already, 

Tell them you are going to put a complaint in for inconvenience, stress, financial redress to the FOS.

In about 8 weeks they will get back to you probably offering compensation, then decide what to do next.

jenwrendorset

shiznit76 said:

it only seems to be Iweb having this problem, see quite a few posters have managed to jump ship to HL, but not heard anyone getting moved to Iweb

Just one of our three accounts managed to transfer to iWeb....almost seamlessly although I hesitate to use that word in the same sentence as ITI.  All transfer requests were sent to ITI by iWeb on 25 August, I received acknowledgement from ITI on 8 Sep (....yes, it does happen very occasionally but certainly not in recent times!) that my transfer request had been received, I then spoke with iWeb later that month and they confirmed receipt of the valuation which was correct and I was given 30 Sep as the date 'it would all happen' and it did.......since then I think it has gone all pear-shaped but we live in hope.

Nbs222

SteveJohnson56 : Ring IWEB UP, explain your assets have moved to linked PX accounts, give the linked account numbers, ask them to submit both SC and PX accounts when IWEB next request valuations from ITI.

I have been doing that since early September , sending email every week  to say they must  send  valuations from my both SC and PX accounts but still they sent just SC account valuations. I have now filled another request for PX account. I have never had any response from ITI to the emails I sent.  I have also logged it with FOS

SteveJohnson56

HNbs222 said:

SteveJohnson56 : Ring IWEB UP, explain your assets have moved to linked PX accounts, give the linked account numbers, ask them to submit both SC and PX accounts when IWEB next request valuations from ITI.

I have been doing that since early September , sending email every week  to say they must  send  valuations from my both SC and PX accounts but still they sent just SC account valuations. I have now filled another request for PX account. I have never had any response from ITI to the emails I sent.  I have also logged it with FOS

So you have given IWEB the PX accounts numbers then?
If so all you can do is complain to ITI compliance and then the FOS eight weeks later, all just a frustrating waiting game then as IWEB have told me.

I've had responses from ITI regarding my complaints, only to offer compensation.

jenwrendorset

Just contacted iWeb again and provided them with PX number......agent mentioned about the letter they've sent out, not terribly encouraging I must say.  Further to the scenario re. withdrawing cash from a recent sale - two days ago it appeared that it might be on the move, sadly the move wasn't in the direction of our bank account - today money is back in the Qort account so I sent off another cash withdrawal form to Muhammet Artykov and actually got a response from him - he has, apparently, sent our request to the 'operations' team (that's a new one!!!) so I have every confidence ( NOT) that it will be in our bank account within  '2 business days'.